Economics

Wealth and Prosperity Do Exist … if You Know Where to Look

"The pursuit of prosperity for ourselves and our children is the underpinning of the American dream – the idea that being all that you can be is possible. But it seems things are changing… The 2012 Legatum Prosperity Index has just been made public. It reveals that America is no longer among the Top 10 countries for the first time ever. We are now 12th. The essential question is: What pulled America out of the top 10? Was it our health care system? An antiquated educational system? Eroding personal freedoms? No. It was the rather significant decline in 'entrepreneurship and opportunity.' Many U.S. citizens no longer believe that hard work pays off." Continue reading →

Continue ReadingWealth and Prosperity Do Exist … if You Know Where to Look

French officials furious at Economist “time-bomb” taunt

"French officials angrily rejected a charge by Britain's The Economist weekly on Friday that France was the 'time-bomb at the heart of Europe' and a danger to the euro single currency, accusing the magazine of sensationalism. French public spending accounts for 56 percent of gross domestic product, the highest level in the euro zone, and public debt reached 90 percent of GDP this year. Hollande's deficit-reduction strategy is based two-thirds on tax increases, much of it on businesses, and one-third on spending cuts." Continue reading →

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Pilots Know More Than Just How to Fly Planes

"The Airline Pilots Association sure understands the importance of government regulation to create benefits for a small group and the value of limiting supply. According to WSJ, new regulations require newly hired pilots to have at least 1,500 hours of prior flight experience. That number is that is six times the current requirement. At the same time a large number of pilots are going to be forced to retire because they are bumping up against the current mandatory retirement age of 65." Continue reading →

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Spain halts evictions of vulnerable homeowners

"Spain announced Thursday a two-year halt to evictions of the most vulnerable home owners as a public outcry mounted over suicides linked to desperate people facing expulsion. The Spanish Banking Association announced Monday it was freezing mortgage-related evictions for two years in extreme cases. Savings banks, too, suspended expulsions while awaiting new government rules. Many people were shocked by two suicides in 15 days by indebted homeowners facing expulsion in Spain, where both banks and borrowers were hammered by a 2008 property crash." Continue reading →

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Wal-Mart workers plan Black Friday walkout

"A group of Wal-Mart workers are planning to stage a walkout next week on Black Friday, arguably the biggest holiday shopping day for the world's largest retail store. The walkout builds on an October strike that started at a Wal-Mart in Los Angeles and spread to stores in 12 other cities. More than 100 workers joined in the October actions. According to Anthony Bianco, author of Wal-Mart: The Bully of Bentonville, butchers at a Wal-Mart supercenter in Jacksonville, Texas, voted to form a union in 2000 -- the first time employees had done so. But soon after that, Wal-Mart eliminated butcher departments in its stores across the country." Continue reading →

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FHA exhausts reserves, may need bailout

"The Federal Housing Administration has exhausted its reserves, forcing it to institute another round of measures to shore up its finances. The government agency's capital cushion plummeted to -$16.3 billion at the end of fiscal 2012, according to a study prepared annually by an independent actuary. FHA is scheduled to present the assessment, along with its annual report to Congress, on Friday. HUD is expected to announce Friday a series of changes designed to improve the agency's financial position." Continue reading →

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UK survey finds one new ‘legal high’ goes on sale every week in Britain

"A record 57 new legal highs have been detected so far this year, with the EU’s early warning system reporting the appearance of more than one new psychoactive drug on the market every week. The rise and rise of legal highs is being driven by an explosion in the number of online retailers selling the new drugs in Europe, which has risen from 170 in 2010 to a record 693 internet 'head shops'. The European drug experts say those manufacturing the drugs are trying to evade attempts to ban them by using ever more obscure chemical groups to synthesise them; a rising number of products now include several psychoactive substances." Continue reading →

Continue ReadingUK survey finds one new ‘legal high’ goes on sale every week in Britain

The Crack-Up of the Eurozone Detailed in One Chart

"Keep in mind that Greece is in such bad shape that it didn't even make this chart. Only Germany of the Eurozone Big 5 is showing positive industrial production [growth] over the last 7 plus years. Germany will not be able to bail everyone else out. It comes down to European Central Bank money printing which will result in a devalued euro, making the debt easier to payoff in the cheaper euros, or it is collapse of the Eurozone." Continue reading →

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Immigration Patterns in the Eurozone

"Watching immigration patterns is a very good way to get a sense for where the more vibrant economies are. There's a lot of immigration, legal and otherwise, into the US from Mexico. Not so much from Canada. People don't immigrate when they are content, which is why the immigration patterns within the eurozone are another signal of the problems in the southern eurozone countries. The number of Greeks moving to Germany jumped 78% in the first half of 2012 from a year earlier, Germany's statistics office reports. Spanish, Portuguese moving into Germany was up 53%." Continue reading →

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